Company Profile

 

SHORT PROFILE OF PROVATI INSURANCE COMPANY LIMITED

CORPORATE INFORMATION:

Date of Incorporation : 31/01/1996
Certificate for Commencement of Business : 25/03/1996
Licence Issued by the Controller of Insurance : 31/03/1996
Operations Started : 02/04/1996
Permission for Initial Public Offering (IPO) : 03/09/2009
Subscription Opened : 15/11/2009
Subscription Closed : 19/11/2009
Listing with DSC & CSE : 18/01/2010
Number of Branches : 55
Authorized Capital : 1,25,00,00,000
Paid-up Capital (Current) : 29,70,25,040
Credit Rating : AA

 OUR VISION

  • To establish the strong economic security base in the field of Commerce & Industries of the Country.
  • To become one the best general insurance companies in every sense & every sphere whatsoever.
  • To win the support and satisfaction of the clientele by reaching out our services to their doorsteps.
  • To establish a standard of performance to be carried on from generation to generation.

 OUR MISSION

  • To maximize Shareowners’ Values.
  • To sustain the policyholders’ contentment.
  • To intensify the volume of profitability.
  • To augment the satisfaction of the employees.

 ADDRESS:

Address of Correspondence            :    Khan Mansion, 11th Floor, 107, Motijheel C/A, Dhaka.

E-mail Address                             :    provatiinsurance@gmail.com,contacts@provati-insurance.com

Web Address                               :    www.provati-insurance.com

Hotline (24 hours)                        :    01552-471311

Phone Number                            :    02-9559561-3

Fax Number                                :    88-02-9564455

 

 

SHARE RELATED INFORMATION

Listing with DSE & CSE                            : January 18, 2010

Permission for Initial Public Offering (IPO)   : 3rd September, 2009

Opening date of Subscription of Shares       : 15.11.2009

Closing date of Subscription of Shares         : 19.11.2009

 

 

 

 

PRINCIPAL ACTIVITIES:

 

All kinds of Non-Life Insurance Business as per Insurance Act, 2010

 

BOARD OF DIRECTORS:

Alhaj Md. Mofizur Rahman Chairman
Mr. Maroof Sattar Ali Vice-Chairman
Alhaj Mohammad Ali Director
Mr. Mohammad Ali Talukder Director
Mr. Md. Momin Ali Director
Mr.  Shahjahan Kabir Director
Mr. Mohammad Mohoshin Kauser Director
Alhaj Sahadat Hossain Director
Mr. Abdur Rahman Ansary Director
Mrs. Sabrina Yeasmin Mouri Director
Mr. Habib-E-Alam Chowdhury Director
Mr. B.M. Nurul Azim, FCA Director
Prof. Dr. Md. Sayaduzzaman (Milon) Director
Mr. Pradip Kumar Das Director
Mr. Md. Badlur Rahman Khan Director
Mr. Md. Habibur Rahman Director

 

MANAGING DIRECTOR

Mr. M. A Salam

 

FOUNDER SHAREHOLDERS

Mr. Alhaj Muksud Ali

Mr. Joarder Nowsher Ali, FCA

Mr. Md. Ruhul Amin, FCA

Mr. Mohammad Ali Talukder

Alhaj Mofizur Rahman

Mr. A.F.M. Jahangir

Alhaj Habibur Rahman

Mr. Md. Abdur Rashid

Mr. Badrul Ahsan

Babu Shatandra Nath Roy

 

Executives of Head Office:

Mr. M. A Salam, Managing Director

Mr. Shakawat Hossain Mamun, Addl. Managing Director, Internal Control & Audit

Mr. Md. Saiful Islam Azad, Dy. Managing Director, Audit & Monitoring Cell

Mr. Md. Nazrul Islam Mazumder, Dy. Managing Director, Claim & Reinsurance Dept.

Mr. Md. Zahedul Islam, Dy. Managing Director (F&A) & Company Secretary

Mr. Md. Mijanur Rahman, General Manager, Administration & Human Resource

Mr. Mahbub-ul-Alam, General Manager, Legal Affairs

 

 

Incharges of Branches:

 

Sl. No. Name & Designation Branch Name Telephone No.
DHAKA DIVISION-22
1 Mr. Md. Nurul Huda (Duke), (Addl.MD) Motijheel 9558950, 9562808, 01711-521815,01824-603530
2 Mr. Md. Moklesur Rahman Khan,(Addl. MD) H.O.Booth 9559561 (Ext-33 & 24) 9552033, 9550166               01819-103431, 01619-103431
3 Mr. Mohammed Abdus Salam Sarker (DM) Principal 9559039, 9552033 (O), 9559561 Ext-2301711115165(M)
4 Mr. N.R. Joney Chowdhury (DMD) Nayabazar 01819-240484 (M), 9582780(0)
5 Mr. Badal Chandra Sarma (DMD) Nawabpur 9559208, 01714-167624
6 Mr. Al-Aminuzzaman, (AMD) Local Office Fax-7120337(O), 9512237, 01720-045577             01670-739409
7 Mr. Farad Uddin (AMD) Local Corpo. 01199-097969, 9587327                                 01714-167629, 01812-040765,
8 Mr. Saiful Islam  (AMD) Senakallyan 9590498, 01552-309600, 9589318 (O)
9 Mr. Md. Rashed Ali Khan (AMD) Dilkusha Corp. 9513762, 9513763, Fax- 9513763                                 01711-473098, 01926-225088
10 Mr.A.K.M. Nasiruzzaman (Sr.GM) Nayapaltan 9350981 (O), 01714-417705, Fax- 8322575
11 Mr. Monjurul Kader (Sr.GM) Dilkusha 9556404, Fax- 9515762, 01715-608576
12 Mr. Jahangir Hossain Khan  (Sr.GM) B.B.Avenue 9558647, 9559862, 01715-005655,01915-532222
13 Mr. Md. Shah Alam (Sr.GM) Bangshal 7121245, 01739-190885, 01552-448642
14 Mr. Md.Robiul Islam Talukder (GM) Gabtoli 9006639, 9022024, 01819-244334(M)                        01714-167628, Fax- 9022024
15 Mr.Nawaz Md.Rashedul Karim (GM) Hatkhola 01711-377544, 01826-204907, 9582746
16 Mr. Golam Mohiuddin Khandakar(GM) Gulshan 58816874, 01911-445783, 01712-265206
17 Mr. A.R Talukder (Sr. DGM) Kawran bazar 9128264, 01711-532846
18 Mr. S.M. Moniruzzaman (Sr. DGM) Imamgonj 7341295, 7310283 (O),  01713-064832
19 Mr. Md. Jamal Uddin Mazumder  (DGM) Moghbazar 9341412, 8359430, 01819-238356
20 Mr. Abul Kalam Azad (CM) Sadarghat 01911-479885, 01714-497559
21 Mr. Md. Anisur Rahman (Anis) Sr.GM Narayangonj 7630469 (0), 01819-297630, Fax- 7646122
22 Kazi Nur Nabi Hossain (GM) Faridpur 0631-64724, 01714-167635                                               0158-604181
MYMENSINGH DIVISION-05
1 Mr. M.A.Bari (AMD) Mymensingh 091-61312, 01711-200614(M) Fax- 091-53429
2 Mr. Muklasur Rahman (DGM) Netrokona 01711052610
3 Mr. Abdul Kuddus Miah (M) Tangail 01728-991209(M)
4 Mr. Md. Rafiqul Islam (M) Jamalpur 0981-2084(O)
5 Mr. Md. Rafiqul Islam  (AM) Sherpur 01798293294

 

 

CHITTAGONG DIVISION-12
1 Mr. Zakir Hossain Talukder (Addl.MD) Dewanhat 01714-167467, 031-722374, Fax- 81337201819-318925, 031-722374,
2 Mr. Md. Mujibur Rahman (Addl. MD.) Laldighi Fax- 031-611358, 620966 (O), 01819318924
3 Mr.A.H.M.Azad Chowdhury (AMD) Agrabad 031-710683, 720301, Fax- 718579                                     01819-394002, 01714-623492
4 Mr. Md. Idrisur Rahman (Sr. GM) Jubilee Road 01714-167469, 031-622038, 612214                              01819-365633, Fax- 2858198
5 Mr. Md. Alamgir Kabir (GM) Khatungonj 01816-127070, 031-611443, 031-623752
6 Aman Bazar 01816-127070, 031-611443, 031-623752
7 Mr. Napal Biswas (DGM) Asadgonj 031-2865175, Fax- 031-2865176
01754-295555, 01836-652581
8 Mr. Mahbub Alam Chowdhury (DGM) Comilla 081-64374, 01714-167472
9 Mr. Tajul Islam Chowdhury (DGM) Laksham  01715-186767,08032-51967, 01719-137575
10 Mr.Shehab Uddin Ahmed (AGM) Chowmuhani 0321-53217, 01717-261526, 01199213391
11 Mr.Md.Giash Uddin Mir (AM) Feni 01814-355190, 0331-73425
12 Mr. Md. Kamal Hossain, (Sr. Officer) Lakshmipur 01924-803456, 01735-521978
RAJSHAHI DIVISION-03
1 Mr. Saiful Azam Shibly (GM) Naogaon 0741-61710, 01714-167483, 01712-659609                       Fax- 0741-62318
2 Mr. Zillur Rahman Alamgir (AGM) Natore 077162981 (O), 01714-167484Fax- 0771-61190
3 Mr. Md. Shafiqul Islam, AGM Bogra 01718616099, 01838312070, 051-69568
  RANGPUR DIVISION:-05    
1. Mr. Joynul Abedin (Sr. GM) Kurigram 0581-51144, 01712-226914, 0581-61997                       Fax- 61603
2. Mr. Abul Kalam Azad (DGM) Rangpur 0521-64883,01716-306100,  Fax:0521-65749
3. Mr. Shah Alam Sarker (DGM) Gaibandha 0541-51732, 01714-167487, 01717-496565,
4. Mr. Mahmudul Alam Sarker (CM) Saidpur 01728-398780, 01920-400881, 05526-73229
5. Mr.Md.Anwarul Islam (M) Dinajpur 01680-266786, Fax: 0531-61832,01718-771745, 01848-080288,
KHULNA DIVISION-04
1. Mr. Zayed -bin- Kabir (Sr.DGM) Jhenidha 045161732, 01711-117955, 01714-167641                  Fax- 0451-61962
2. Mr.Shafiqul Islam (Sr.DGM) Kushtia 07173624, 01714-167642, Fax- 071-61479
3. Mrs. Shahana Khanam (M) Jessore 0421-68821, Inch.-01712969452, 01638697984, Fax- 0421-68587
4. Mr. M. M. Zakir Hossain (AM) Chuadanga 0761-63560, Fax:- 0761-62207,01712-508875, 01912315400
SYLHET DIVISION-03
1. Mr. Md. Jamal Uddin Chowdhury (GM) Sylhet 01199-630757, 0821-714003(0),Fax- 724822
2. Mr. Janesh Ranjan Das Guptha(AGM) Moulvi Bazar 0861-53500, 01711-469521,01714-167651
3. Mr. Md. Atiqur Rahman (AGM) Habigonj 01712017329
BARISAL DIVISION-01
1. Mr. Shah Alam Masud, (AGM) Barisal 0431-2173370 (O), 01714-350352 (M)              01714-167652, Fax- 61361

MEMBERSHIP

 

Bangladesh Insurance Association (BIA)

Dhaka Chamber of Commerce & Industry (DCCI)

Dutch-Bangla Chamber of Commerce & Industry (DBCCI)

 

SPECIAL ATTAINMENT

 

ISO 9001:2008 from Moody International, UKAS

 

INFORMATION OF BRANCH OFFICES

 

Date of First Branch opening           :  2nd April 1996

Number of Branches                     :  55 Branches

 

ESTABLISHED RULES

 

1.       Service Rules

2.       P.F Rules

 

COMMITTEES

 

1.       Board Audit Committee

2.       Board Executive Committee

3.       Purchase & Sales Committee

4.       Anti Money Laundering Committee

6.       ISO 9001:2008 Management Committee

 

FINANCIAL INFORMATION AS PER ACCOUNTS, 2017

Taka in Crore

Paid-up Capital : Tk. 29.70
Shareholder’s Equity : Tk. 50.03
Total Assets : Tk. 101.97
Current Assets : Tk. 68.68
Fixed Assets (At Cost less Dep.) : Tk. 14.36
Value per Share (against Tk.10)=NAV : Tk. 16.84
Earning per Share : Tk. 1.74
Net Profit before Tax : Tk. 6.90
Claims Paid : Tk. 19.82
Gross Premium Income : Tk. 48.26

 

CREDIT RATING INFORMATION:

 

 Name of the Company : Argus Credit Rating Services Limited (ACRSL)
Long Term Rating : AA-”
Short Term Rating : ACRSL-2
Outlook : Stable
Date of Rating Declaration : 17 September, 2017
Validity of Rating : 17 September, 2018

 

 

EMPLOYEES RECORD

 

The company has a good number of highly qualified and truly professional executives. The Managing Director of the Company Mr. M. A. Salam and Addl. Managing Director Mr. Shakawat Hossain Mamun have a long experience and profound expertise in insurance & reinsurance.

 

There were 739 employees of different categories in 2017 who are listed below:

 

Sl. No. Particulars No. of Employees
i) Managing Director 1
ii) Consultant 1
iii) Additional Managing Director 5
iv) Deputy Managing Director 6
v) Assistant Managing Director 8
vi) Deputy Managing Director and Company Secretary 1
vii) Senior General Manager 8
viii) General Manager 30
ix) Senior Deputy General Manager 10
x) Deputy General Manager 52
xi) Assistant General Manager 75
xii) Officers 420
xiii) Other Employees 122
Total: 739

 

EMPLOYEES SERVICE BENEFITS

 

1)            Contributory Provident Fund.

2)            Gratuity.

3)                    Personal Accident Insurance Policy.

4)       Maternity, Casual, Earn & Medical Leaves.

 

BANK ENLISTMENT

 

We are enlisted with all the major local and foreign Banks operating in Bangladesh.

 

 

OPERATION WITH BANKS

 

Mainly:

Bank Asia Ltd.

MCB Dilkusha Branch, Dhaka

 

We also operate other Bank Accounts with all National & International Banks in Bangladesh.

 

REINSURANCE ARRANGEMENTS

 

We have a proper treaty arrangement with Sadharan Bima Corporation in respect of all classes such as Fire, Marine, Cargo, Motor, Vehicles, Miscellaneous Accident & Engineering.

 

 

 

REPUTED CLIENTS OF THE COMPANY

 

 

SL. NO. GROUP OF COMPANIES & INDUSTRIES
A.  
1 A.K. Chemical Group
2 A.K.H Group
3 Aftab Group
4 Alhaj Moazzam Hossain Group
5 A. R. Malik Seeds Pvt. Ltd.
6 Al-Muslim Group
7 Bashundhara Group
8 Beximco Group
9 BNS Group
10 BRB Group
11 Brothers Group
12 Chemicon Group
13 D & S Pretty Group
14 Dada Group
15 Dye-tax Group of Industries
16 Edison Group
17 Envoy Group
18 Fancy Group
19 Hannan Group
20 Hypoid Group
21 Kabir Group
22 Krishno Chura Group
23 Lalmai Group
24 Lina Group
25 Majumder Group
26 Matador Group
27 Max Group
28 Mohammadi Group
29 Mosharaf Group
30 Multazin Group
31 Nasim Group
32 New Joy Group
33 Osman Group
34 Prime Group
35 Rahmat Group
36 Ramisha Group
37 Ranel Group
38 Rib Line Group
39 Ronak Group
40 Rupashi Group
41 Shema Group
42 Stylo Group of Industries
43 Swan Group
44 Swiss Tex Group
45 Tharmex Group
46 Tilottoma Bangla Group
47 Union Group
48 Urmi Group
49 Walton Group
50 Welltex Group
B. SPINNING MILLS:
1 Azharul Spinning Mills Ltd.
2 Belkuchi Spinning Mills Ltd.
3 BSB Spinning Mills Ltd.
4 Delta Spinning Mills Ltd.
5 Hajee Hashem Spinning Mills Ltd.
6 Patriot Spinning Mills Ltd.
7 R.K. Spinning Mills Ltd.
8 Raha Spinning Mills Ltd.
C. TEXTILE MILLS:
1 Beximco Syntactic
2 Dobiruddin Textiles
3 East West Suiting Mills Ltd.
4 Jobeda Textile Mills Corp.
5 Saad Musa Fabrics Ltd
6 Souyfa Textiles
7 Tamijuddin Textiles
8 Tomizzuddin Textile Mills Ltd.
D. GARMENTS  FACTORIES :
1 BG Collection
2 Calico Garments
3 Crown Cotton & Wool wear Ltd.
4 Instyle Fashion
5 Mac Printing & Garments Accessories
6 Rahima Garments
7 Rider Fashion
8 Sadat  Composite Industries
9 Shinest Apparels
10 Starlight Sweater
11 The Cloth & Fashions Ltd.
E. ELECTRONICS:
1 BBS Cables
2 BRB Cables
3 Mohammadi Electric Wires
4 Nova Electronics Ltd
5 Shahinoor Electronics (TCL)
6 Siam Computerized Elastic Ind. Ltd.
F. STEEL:
1 BSRM Steel Industries Ltd.
2 Modern Steel Industries Ltd.
3 S.L. Steel Industries Ltd.
G. CHEMICALS:
1 Kwality Chemicals & Plasticizers Ltd.
2 V.A.K. Chemicals Inds. Ltd.
3 Elite Paint
H. SHIP BUILDERS:
1 Vosta LMG Karnafuly Joint Venture Consortium
2 Western Marine
I. OTHER INDUSTRIES:
1 Balent Tech Ltd.
2 Building Technology Idea (BTI)
1 Bengal Agency
2 Chung-Hua Aluminum Industries Ltd.
3 Fabian Industry
4 Hatil Complex Ltd.
5 Max Auto Mobiles
6 Potanga Footwear (Pvt.) Ltd.
7 Progati Industries Ltd.
8 Romana Paint
9 Shahan Himaghar Ltd.
10 SK. Brothers
11 Sweet Agrovet Ltd.
12 VIP Industries
13 Yeasir Enterprise